Market Wrap: Bitcoin Hits $40K Again While Ether Volume Is Erupting This Year

Bitcoin’s price is on a rising trend for the first time this week.

With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.

Bitcoin’s price popped Thursday while options traders take bearish ether October bets.

A bullish bitcoin mentality appears to be forming in the options market while ether continues on its roller coaster.

The last time bitcoin’s closing price was under $30,000 was Jan. 1, according to CoinDesk 20 data.

Bitcoin briefly dropped below $19,000 on a low-volume day while the ether options market seems to be in decline for now.